〆Hanwa Co. Ltd Delivers Biofuel in South Korea to Overseas Shipping Company for the First Time
On 7th December 2024, Hanwa Co., Ltd delivered a biofuel blend to Taiwanese shipping company Yang Ming Marine Transport Corp. at the port of Busan, South Korea. The fuel, a B30 VLSFO (Very Low Sulphur Fuel Oil) consisting of 30% waste cooking oil-based biofuel, was supplied by South Korea’s HD Hyundai Oilbank. This marks the first time HD Hyundai Oilbank has provided biofuel to a foreign shipping company, as its previous sales were exclusively to domestic firms.
Photo courtesy= Hanwa Co. Ltd
This milestone highlights Hanwa’s intention to establish a long-term and stable supply system in the liquid biofuel market.
South Korea has been supplying bio-blended marine fuels—known as bio-bunkers—since September 2023, with a trial period set to last until June 2025. During this period, data submission is mandatory to monitor potential impacts on vessel engines, and various restrictions remain in place.
There are currently two types of bio-bunker fuels available in South Korea: B30 HSFO (High Sulphur Fuel Oil), supplied by GS Caltex, and B30 VLSFO, supplied by HD Hyundai Oilbank. GS Caltex began delivering its biofuel in September 2023, expanding sales to international customers such as Taiwan-based Evergreen Marine Corp. In contrast, HD Hyundai Oilbank started supplying its fuel in July 2024, but had limited sales to domestic shipping companies, including its affiliate Hyundai Glovis.
The restrictions stemmed from a requirement during the trial period to source UCOME (Used Cooking Oil Methyl Ester) domestically, aimed at preventing an influx of cheaper overseas raw materials. Furthermore, unlike B30 HSFO, which caters to scrubber-fitted vessels, widespread access to B30 VLSFO risked creating supply constraints.
Following a clearer understanding of demand and delivery outcomes, HD Hyundai Oilbank lifted restrictions on foreign sales. Hanwa Co., Ltd facilitated the first overseas delivery of this fuel, with Yang Ming Marine Transport Corp. becoming its inaugural recipient.
Hanwa has been actively involved in the trade of biofuel raw materials such as palm oil and waste cooking oil. Moving forward, the company plans to expand its role, ensuring raw material procurement and distribution across industries. Beyond the marine sector, Hanwa aims to contribute to other markets, including Sustainable Aviation Fuel (SAF).
阪和興業（HANWA CO,LTD）、韓国でバイオ（Hyundai Oilbank）燃料を納入。海外船社向け初めて。
阪和興業は2024年12月7日、台湾船社の陽明海運（YangMing Marine Transport Corp.）に対し、廃食油由来のバイオ燃料を30%混合したB30VLSFO（低硫黄燃料油）を韓国・釜山港で納入した。今回納入された燃料は、韓国のHD現代オイルバンクから仕入れたもので、同社が韓国船社以外の海外船社に販売するのは初となる。
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